By siliconindia | Thursday, 04 March 2021, 05:53 Hrs One of the primary responsibilities of management is to arrive at effective decision-making in the least possible time. Effective decisions made on time can do wonders for companies and result in significant savings. However, if the table is turned, companies can suffer considerable losses in monetary terms and brand value due to one wrong decision. The effectiveness of decisions highly relies on the data it is based upon. The absence of correct data or wrong interpretation of data can result in incorrect or delayed decisions. Data generation takes place at an unprecedented rate and scale to help in decision-making or resolve critical issues. Vast amounts of data are posing several challenges for companies across industries. Some of the key challenges include collections, storage, and handling of large volume, variety, the velocity of data, summarizing the finding, and making meaningful